Answer:
a. Profit; $520
b. Firms will enter; Left
c. Zero profits or normal profits
Explanation:
A restaurant is operating in a monopolistic competitive market.
The restaurant is producing 260 meals per day.
This is the profit maximizing level of output where the marginal cost is equal to marginal revenue.
The average total cost at this point is $10.
The price level is $12.
The profit or loss to the restaurant will be equal to the difference between total revenue and total cost.
a. Profit
= Total Revenue - Total cost
= $12
260 - $10 260
= $3,120 - $2,600
= $520
b. This supernormal profit will attract other firms to enter the market, as a result the market share of existing firms will decline. The demand curve of the restaurant will move to the left.
c. In the long run, the firms in a perfectly competitive market earn only zero economic profits as positive profits attract new firms and negative profits cause the firms to leave.
So the restaurant will have zero or normal profits in the long run.
Answer:
D stands for drive.
Explanation:
In automatic transmission vehicles, the letter D represents all forward-moving gears. When the engine is running, and the automatic transmission is activated with D, accelerating the car will make it move forward.
Some vehicles will have a series of numbers after the D. The may be labeled ad D1, D2, D3 in that order. These are manuals setting for the forward gear operations. They help the vehicle navigate different terrain as follows
- D1: Suitable for difficult terrains like sand and mud.
- D2: Best for up climbing or hilly roads
- D3: May also be marked as OD or overdrive. It makes the car move fast hence suitable for when overtaking.
For vehicles with only D, the single D combines all the above functions.
Answer: Consulting firms and government organizations
Explanation:
When external bodies; Consulting firms and any organization carry out a task in a firm, it is said that the particular job was outsourced for services to be provided by an external body.
Answer:
c. Outsource to a third party
Explanation:
At that time when business improved, Tasha Lind saw that the company is suffering with shortage of talent. From the given following methods she should use <u>outsource to a third party</u> for managing the shortage of talent because as outsource to a third party generally means that the company will give the contract of their work to any third party they wish. As company is suffering with shortage of talent, so the company will have to give contract to any other third party because company will not make its loss.
Answer:
Low-priced inventory with high turnover
Explanation:
GOT IT RIGHT IN QUIZ
